T2 Partners Management, the investment management firm headed by Whitney Tilson disclosed its equity portfolio for the third quarter. Based on its 13F filing with the Securities and Exchange Commission (SEC), its equity portfolio has a market value of $43,746,000.
T2 Partners new stock acquisitions
The filing showed that T2 Partners initiated positions in three companies including Union Pacific Corporation, General Electric Company, and Canadian Pacific Railway.
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During the quarter, the investment management firm acquired 31,280 shares of Union Pacific worth around $2.765 million, 101,950 shares of General Electric worth $2.571 million, and 10,700 shares of Canadian Pacific Railway worth $1.536 million.
During the Value Investing Seminar in July, Mr. Tilson noted that General Electric that it is the 17th largest business worldwide in terms of revenue ($148 billion) in 2014, and the company is selling most of the assets of GE Capital and appliance business. According to Mr. Tilson, the remaining businesses of General Electric are of exceptional quality with high margins, solid growth, and stock backlogs.
On the other hand, Mr. Tilson bought a stake in Union Pacific and Canadian Pacific Railway because of his belief that a consolidation, when it happens, would make the railroad industry better. It would also offer a “decade-long tailwind of strong top-time growth combined with improved pricing, margins, and returns on capital, leading to rapidly rising earnings.”
T2 Partners added positions
During the quarter, T2 Partners increased its positions in Howard Hughes by 1,070 shares to 51,495 shares. Its stake in the company has a market value of around $5.909 million.
The investment management firm bought additional 96,180 shares in Platform Special Products, bringing its stake to a total of 367,320 shares worth $4.647 million.
T2 Partners increased its stake in Berkshire Hathaway (NYSE:BRK.B) by 8,695 shares to $31,983 share worth around $4.171 million.
The investment management firm boosted its stake in Avis Budget Group by 1,520 shares to 73,491shares worth about $3.21 million. It increased its position in Micron Technology by 44,290 shares to 181,420 shares worth $2.718 million.
T2 Partners also added its stake in SodaStream International by 39,080 shares to 190,785 shares and Spark Networks by 45,800 shares to 807,509 shares. Its stake in both companies has a market value of around $2.625 million and $2.326 million, respectively.
For the month of October, Mr. Tilson’s Kase Fund delivered solid performance. The Fund was up 7.4% driven by its long-equity positions including General Electric, Avis Budget Group, Spark Networks, and Micron Technology among others. These companies achieved double-digit gains.